Foreclosures bring a well -qualified Hard Money Borrower. Here is a great opportunity to get your money out there and earning 10 - 12%!
Foreclosures are setting the price at the bottom of the market. It makes mathematical sense to invest in these as they have hit the bottom.
The typical buyer for these currently is using one of the federally backed loans made by FNMA (Federal National Mortgage Association or Fannie-Mae), FHLMC (Federal Home Loan Mortgage Corporation or Freddie-Mac) or FHA (Federal Housing Administration). These programs offer home ownership with low down payment requirements.
It has effectively closed out private money investors on the foreclosed properties except for certain situations. Hard Money specifics: www.sunpacmortgage.com/Private-hard-money
We are promoting for Buyers with a good cash position to do Flips. A Flip is a property bought at a below market price, renovated and then resold. So the security for the loan is priced at the bottom of the market.
Further, this is a really good class of borrower. They are generally contractors that have at least a 20% down payment and money in the bank to do renovations. The renovations enhance the security position as they progress.
As the Broker of Sun Pacific Mortgage and Real Estate I have been dealing in such loans for over 20 years and worked with many, many investors and borrowers to great success. CALL me at 523-2099 and let's see how I can help you make a good investment!
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DRE #01464899/NMLS #360993
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